Individuals’ reasons for conducting an asset search cover a broad spectrum, from curiosity about the existence of a secret bank account to the recovery of long-lost family heirlooms. Private investigation firms provide this kind of service frequently to their paying customers. To explain why an individual would like to proceed with this, this article focuses on the following motivations, use cases, and beneficiaries of hidden asset services.

The process of asset discovery is straightforward, but there are details worth knowing for optimal results.

Some typical cases where it would be necessary to uncover hidden assets are the following:

While there are a variety of situations in which an asset search is necessary, the most prevalent ones are as follows:

Business

Let’s say you have reason to believe your business associate is engaging in dishonest or unethical practices, such as fraud, theft, improperly helping a competitor, or running a parallel enterprise. Some private detectives can do a thorough search and inquiry to uncover all of the subject’s hidden assets.

Legal Matters Regarding Your Estate or Trust

It is relatively uncommon for beneficiaries to suspect that the Executors have abused their power and stolen from the estate. To determine the scope of the loss and locate any hidden assets of the executor or any other parties involved with the estate or trust, our team of qualified private detectives can conduct surveillance, background searches, bank records searches, and more.

Divorce

Divorcing parties frequently resort to asset concealment to avoid having to make equitable financial settlements. If you have any reason to believe something fishy is going on, you must act fast to find out what’s happening before your money and assets vanish forever.

Child Support

Child Support Low incomes, business loss, high healthcare costs, business failure, and other similar justifications are often used. Private investigators will use overt and covert methods to find your missing money and valuables and then compile a full report with irrefutable proof for use in court.

Sites Where Money and Property Are Concealed

If the owner is creative enough, they can hide their assets practically anywhere. Some create private corporations or limited liability companies to keep their valuables safe. Some people use offshore accounts to hide their wealth from authorities. It is possible to conceal wealth by any means necessary, even if it means paying off creditors in full.

In other cases, a person may try to turn it into something else and spend a significant amount of money doing so. It could be the situation when investing in high-priced real estate, cars, boats, planes, RVs, jewelry, art, and other luxuries. When making these investments, the owner may use cash to acquire a high-priced asset and then lie about its true worth on various official documents. Assets in retirement accounts, equities, bonds, life insurance policies, annuities, and safe deposit boxes are less spectacular assets that individuals may have.

Assets that have yet to be received might sometimes be considered “hidden. Stock options, delayed bonuses, or salary increases are all examples. To avoid dividing these assets with the other party in a divorce, one spouse may try to hold on to them until you finalize the divorce. For the same reason, they might put off signing a new company deal. People may underreport their income when they have child support or creditor commitments since they may be tempted to keep the extra cash they make from a company or self-employment.

Third parties may be involved in some hidden assets, consciously or unknowingly. Parents may use custodial accounts and other methods to conceal assets from prying eyes. There are even cases where one partner will pretend to owe money to another, only to pay it off and then want it back. A company can legally pay a spouse or creditor in the guise of a made-up person. A person can conceal possessions in a safe deposit box, with a friend, or in a relative’s home. For the other person, the cheating partner may be purchasing an apartment, high-end clothing, expensive jewelry, or even hard cash.

Tracking Down Resources

You can find hidden assets with the help of a private investigation agency. To make sure the court is informed of any alleged misbehavior involving concealed assets, they may also write a report and testify in court.

Background Checks

A private investigator can learn more about a subject with a background check. A person’s suitability for a job can be verified by a background check in various circumstances. Background checks, however, can also tell you a lot about a business or nonprofit. A significant firm’s CEO can employ a private detective’s services to check a competitor’s legitimacy before committing to an acquisition. The CEO can learn more about the competitor’s finances and other relevant information through this investigation. The background check will also identify any fraud, concealed assets, or additional information that could derail the business transaction.

Surveillance

Surveillance is a standard tool when a private investigator has to gather evidence of concealed assets. For instance, someone going through a divorce might have stashed valuable artwork in a storage unit. A private detective will follow the target around and observe their every move. The private eye keeps the target before they go to the storage facility, where the hidden artwork is discovered. The private detective will document their investigation and provide the details to the client’s legal team. Consequently, the attorney or client can utilize the material in court, provided it was obtained lawfully.

In its broadest sense, surveillance is an investigative method that involves keeping tabs on a person (or individuals) as they carry out their regular activities. The subject’s ignorance of the surveillance’s presence is crucial to any inquiry, including such tactics. Why? Because once you tell them, they’ll quickly alter their ways. As a result, the person possessing the hidden artwork wouldn’t access the locker if they had any reason to believe that someone else was present. They would likely change their strategy to reduce the likelihood of being discovered. Nonetheless, surveillance in an assets search lawsuit might yield substantial evidence in favor of the plaintiff.

Public Records

By “public records,” we mean any documents kept by governments. In most cases, the state or federal government is tasked with creating public records; however, anyone can do it if they choose. Some documents that are available to the public are:

• Paperwork for Immigrants
• Public records about real estate
• Crime statistics
• Death certificates
• Official documents

Remember that anyone can conduct a public records search because this data is freely accessible. However, a private investigator’s expertise is required to properly investigate a target and uncover relevant details about that person, business, or organization. This process is also slow. What a private detective can locate in a matter of hours or days, someone without investigative training would spend weeks or months trying to find. Because of this, many legal professionals employ private investigators. A private detective can aid a case by efficiently and rapidly locating relevant public records.

A private eye could examine bank information, mobile devices, electronic messages, and more. They need to check every possible corner of a case when looking for assets. They must exhaust every possible resource, as overlooking any evidence could have severe consequences for the inquiry.

By carefully examining their bank statements, you can also find clues that your partner is hiding money. Keep an eye out for digital or wire transfers to foreign accounts. Credit card statements are another excellent way to trace the origin of a payment. You should look into the second account if the bills need to be paid from a shared checking account.

Take away

Your hidden assets case investigator will deliver a written report for your perusal. Both the client and the investigator check the final report for correctness. The PI will address the customer’s concerns and answer any inquiries.

It’s highly recommendable to engage a private investigator. The stereotypical image of a private investigator is someone who secretly watches their targets. On the other hand, personal investigators are highly skilled experts who may often aid your lawyer in uncovering any assets your spouse has hidden from you.

Skilled investigators can locate loans, and offshore bank accounts, contact others who might have more data and find out if your spouse has purchased any property for himself or someone else without your knowledge.

For experts, you should contact 1-800-577-1080; all their private detectives are former federal agents. Former members of the DEA, FBI, Secret Service and IRS agents make up a network of private investigators. They can get the client’s designated agent to court if necessary. All conversations between a client and their investigators will be held in the strictest confidence.

How do spouses hide assets?

How individuals conceal their wealth range from the mundane and predictable to the ingenious and surprising. Spouses, family members, friends, and coworkers might or might not be conscious of their use in these situations.

Property is often hidden away in a safe bank vault or storage locker under someone else’s name. Using a child’s social security number, parents can open custodial accounts and transfer significant amounts of cash to trusts, which can help conceal the actual ownership of the funds.

Another typical practice is to pay down obligations like mortgages, cars, and credit cards. Some people even “repay” imaginary debts to loved ones or provide gifts to take them back at a later date. Companies and workers can conspire to put off pay increases and bonus payments. If the spouse is a business owner, they may pay fees and salaries to friends and family for services that were not delivered and then receive the money back after the settlement is finalized.

Others might pay wages to non-existent workers or subcontractors and then invalidate the checks. Holding off on contracting with clients and not reporting income on Profit & loss statements can temporarily reduce a company’s perceived value.

Why look for hidden assets?

Investigators might conduct investigations into ostensibly hidden assets for many different reasons. If a private investigator (PI) is engaged to keep tabs on a client’s spouse and finds evidence of infidelity, the client may want to consider a confidential asset inquiry. The client benefits since they now have a comprehensive overview of their possessions. In many cases, the hidden property investigation can uncover assets worth over a million dollars that neither husband had any idea about before the inquiry began.

A client may request a search for hidden assets for various additional reasons. It is typically done to settle a past-due debt or fulfill a judgment. Once an insurer pays for an insured’s damages because the other party lacks insurance, the insurer may launch a “subrogation” investigation to recoup whatever money it paid. After paying out on a claim, the insurance company will look for a way to get their money back.

Before doing business with another firm or individual, it is common practice for companies to perform a hidden asset investigation to verify their financial security. When you use the word “hidden,” you virtually have in mind the thought that the assets aren’t discoverable because someone purposefully hid them. It is correct on occasion, but more often than not, the assets are merely inconveniently located.

Tips and tools to help you find hidden assets.

A financial investigator can be helpful whether you’re working with an individual or a company and whether or not you suspect there are hidden assets. One must first know where to look to locate hidden assets, and an investigator can unearth even the most concealed riches.

Talk It Over In Person Or On The Phone

At first, the detectives will collect any data they can find on the position. The choice is yours: either visit the offices for a face-to-face chat or call them to discuss the details. They must have complete information regarding whose properties are in question, why there is uncertainty, where the asset could be located, and so on. The detectives will proceed to the following phase after they have a broad concept.

Thorough research

The resources and equipment will be used to search for buried treasure. They could even enlist the aid of their extensive network if necessary. Some people who know where the hidden asset is stashed could have to be monitored if necessary. They can learn the truth by spying on them.

Collect the Proof

There has never been a time when investigators returned empty-handed. All the advice they give their clients is supported by evidence that would hold up in a court of law. Things like video and audio recordings, images, property paperwork and documents, and so on can be retrieved by detectives.

Examination of business and individual tax returns.

A tax return is only one piece of the financial puzzle, but it can provide helpful information.

Don’t bother with internet search engines.

You’ve probably seen their adverts on Google: the ones advertising online tools that, for the low, low price of $49.99, promise to reveal hidden assets and bank accounts. Unfortunately, these methods do not expose confidential income sources, financial holdings, or help. These search engines have a narrow scope and only cover some countries.

You will, however, be trusting a less-than-stellar organization with all of your private data and will be subject to hacking attempts and phishing emails for years to come. The benefits of registering for these “simple” services are seldom worth the potential downsides.

Check your bank statements carefully.

Keep a watchful eye on the ideas for any shared bank accounts. It’s common to assume that a spouse won’t catch on if you make secret deposits into other accounts; therefore, many individuals never even attempt. A spouse will likely send large or suspicious withdrawals to a hidden asset. Even if you don’t know where the money is going right away, you can use the suspicion they arouse to raise the issue in your divorce case and get answers.

Keep an eye on the credit report.

It may affect both of you even if just one opens a credit card. Use a monitoring service like Credit Karma to detect any changes. You should look at more than just new accounts but also credit queries. They may help you discover previously unknown resources.

Be on the lookout for outgoing payments.

One common way to conceal wealth is to give it to a kid or relative. One option is for your partner to start a savings account in your child’s name and move funds from the joint statement. They could also take a large sum of money and present it to a parent, sibling, or family member. These “gifts” are often designed to keep money out of your hands. Identify any suspicious transfers and report them to your divorce lawyer immediately.

Make some thorough inquiries.

Make sure you and your client talk about their financial situation, including any assets they may have hidden, before filing a lawsuit or seeking arbitration. Asking inquiries about one’s way of life can reveal potential warning signs that warrant further investigation. Does the customer claim to be unemployed but drive a luxury vehicle? Do you have all the cutting-edge technology and appliances in your home? Is there access to financial paperwork, like suretyship paperwork, credit application info, or a prenup?

Is it possible that the other party stashed assets in trusts and offshore before getting married, entering into an agreement, or starting a business together? It might be feasible to recoup losses from such investments if the security of those assets occurred after the deal was made.

Do the logical thing.

Determine the respondent’s financial standing by employing all available means. Using an internet site to conduct this discovery eliminates the tedium and cuts down the amount of time spent on case preparation that needs to be billable.

Have faith, and don’t take any chances

Check the legitimacy of the website you intend to use. It could be tempting to use a free search engine, but make sure it has access to relevant databases such as Deeds Office and CIPC registers. Do current sequestrations against these assets show up?

Take away

The detective knows they cannot trust any data gleaned from the web. It must be verified and connected with further data. On top of that, most online research is undertaken in tandem with public document sources because the content is not intended to be comprehensive. Complex and time-consuming as they may be, inquiries into hidden assets are often required to guarantee a client is being handled fairly.

You should contact 1-800-577-1080 if you are entitled to money, property, stocks, or other interests. As a result of a breakup or other proceeding, or if you want to know your possible business partner’s real intent and interests before entering into a partnership with them, these ex-federal agents will assist you in looking for hidden assets. They can be helpful tools.

How are Assets Defined?

The first step in understanding the hidden asset recovery process is understanding what we mean when we speak of assets. The term covers various items that individuals and corporations can own. These two categories are broken down as follows:

• Business Assets: Trademarks, patents, watercraft, vehicles, aircraft, land, inventory, buildings, office equipment, furniture, intellectual property, cash, and cash equivalents (stocks, bonds, etc.).
• Personal Assets: Cash (savings accounts, money markets, Certificates of Deposit, bonds, offshore accounts), cash equivalents, personal property (jewelry, art, vehicles, watches), safety deposit box contents, investments (stocks, bonds, mutual funds, etc.), real estate (commercial and residential), life insurance annuity contracts, family trusts, cryptocurrencies (digital coins, tokens, etc.), and more.

In addition to the assets mentioned above, investigators will also seek to uncover related information, including tax liens, bankruptcy filings, pending judgments, hidden accounts, UCC filings, etc. They will often identify criminal activity on the part of corporations and individuals, such as embezzlement, tax evasion, money laundering, and fraud, which can then be forwarded to the relevant authorities for further prosecution.

When do you Need a Private Asset Recovery Investigator?

Asset recovery private investigators provide their services to people interested in determining someone else’s financial status. These are legal operatives with the knowledge, skills, and experience to perform this duty efficiently. The most effective private investigators have a background in law enforcement, finance, computer science, and other fields that aid in such investigations, so be sure to look for outfits with these agents on their staff. These are the most common hidden asset search scenarios private investigators are called in for

• Pre-Litigation Due Diligence: Whenever you’re thinking about initiating legal proceedings against another person or a corporation, you must first find out whether it will be worth the time and money this will cost you. In cases where you will be looking for punitive damages, it won’t make sense to sue someone who has no way of paying you because they do not have the necessary assets. Private investigators can help you determine whether or not to proceed with legal action, giving you a chance not to spend money on a fruitless pursuit.

• Judgment Recovery: Whenever somebody is awarded a judgment in their favor that calls for the other party to pay them a certain amount, the foremost responsibility of collecting the debt falls on the plaintiff. This means that if someone owes you money according to a court ruling, it’s on you to get that money from them unless you wish to take it back to court for another round of costly litigation. Professional investigators can be hired to establish the extent of the debtor’s financial capacity so that you can successfully file your claims against them.

• Alimony and Child Support: Divorce proceedings can be some of the most complicated and frustrating legal procedures you can experience in American law courts. Because of the bitter feelings and mistrust that often accompany these legal actions, asset determination is a vital element of the process in many instances. This is especially true where a spouse may require support after separation in the form of alimony payments or where children under eighteen need upkeep in the form of child support. People amid divorce proceedings are notorious for their tendency to hide or under-declare their assets to keep their obligations to a minimum.

• Pre-Business Purchases: Aside from figuring out whether or not a business is profitable enough to be worth buying or investing in, the most important thing you can do is determine any liabilities. The actual financial status of a business can only be determined by analyzing the combination of its assets and liabilities. Unscrupulous business owners may try and hoodwink potential buyers by underreporting or hiding their weaknesses only for them to harm the new proprietors. Don’t allow this to happen to you. Private investigators have the technological and financial expertise to uncover hidden assets, even if they are stashed outside the country or behind the most complex electronic or legal systems.

• Probate and Inheritance Discovery: When a relative or loved one passes away, those left behind are left with terrible sadness and void. This mourning period can be even more complicated if the decedent dies without making an estate plan or legal will. In such instances, it will fall to the courts and probate lawyers to untangle the confusion left in their wake. Private investigators can help those left behind find out what the deceased owned in the hopes that it can make their lives somewhat more comfortable without them.

You might be surprised to learn that hidden assets are discovered in 90 percent of cases where private investigators are called in. Even if you aren’t particularly suspicious that assets are being hidden or under-declared, it often pays to be sure.

How Can Money be Recovered After a Judgment is Made?

There are myriad ways to recover money owed to you from individuals or corporations, even when they would rather not pay you directly. Courts have the authority to issue mandates ensuring justice and equity are achieved. A few of the available measures of recovering money owed through legal orders include:

• Garnishing wages
• Levying charges on a debtor’s bank accounts
• Confiscating property
• Placing liens on their property
• Placing their property in the hands of third-party executioners
• Claiming royalties and collections

Why Come to Us?

When looking for private investigators to help you with your situation, there are some vital factors that you need to be careful about. The unfortunate reality of the industry today is that there are only so many agencies willing to cut corners and skirt the boundaries of legality to achieve their objectives. This often leads to their clients being countersued and often winding up on the other side of the law due to their unlawful tactics.

Our operatives have extensive backgrounds in law enforcement agencies such as the DEA, FBI, Secret Service, Police Service, IRS, and other services with a bearing on an industry with very close ties with the law and finance. To ensure that all our clients receive the best service possible without the potential of having their claims overturned at a later date because of our actions, we strictly adhere to the protocols and regulations outlined in all the State laws, Federal laws, and financial privacy regulations in every state we operate in.

Aside from strictly following the protocols outlined in the 1999 Gramm-Leach-Bliley Act (GLB), which details the parameters allowing us to access people’s personal information, we also adhere to all debt-collection laws instituted in the United States. These include the regulations outlined by the US Department of Labor Garnishment Laws, the Federal Trade Commission, the Consumer Credit Protection Act (CCPA), the Internal Revenue Service, and so on.

Complying with the parameters set out by these bodies is the only way to keep your asset search safe, legal, and admissible in court. Over many years of experience in the hidden asset discovery industry, our operatives have learned the most effective legal methods of discovering the information they need, no matter how well-hidden it may be.

Final Thoughts

Most people’s exposure to private investigations is limited to TV shows and movies where the investigator solves murders that have baffled the police department or where bearded bounty hunters chase down wanted men and women across poor neighborhoods. The reality is that private investigators play much more varied and complex roles in society out of sight of the average person.

If you have ever had to take legal action against someone through a law firm, your lawyers will likely have used the services of private investigators to determine whether a case is worth pursuing on your behalf. We need to understand that investigators can help us with all problems with excellent results at affordable costs. Get in touch with us today and let us know what we can do for you.